Monaco State Overview

By | November 29, 2021

According to abbreviationfinder, Monaco is the second smallest country in the world, and paradoxically the first in population density. The Principality of Monaco is located at the southern foot of the Alps and on the shores of the Mediterranean Sea, on the southern coast of France, near the border with Italy, on the French Riviera, also called the Côte d’Azur. It is a western European state, on the shores of the Mediterranean Sea. Its climate, Mediterranean par excellence, makes Monaco a privileged place, where life is very pleasant in all seasons. It is also a prestigious cultural center where the most luxurious hotels in the world are located, as well as one of the most prestigious gastronomic systems in the world.

The principality is also home to several events such as the Formula 1 Monaco Grand Prix as well as the Monte Carlo Masters, one of the most prestigious tennis events in the world. But without a doubt, it is the Monte Carlo Casino, which has been dedicated from its origins to the art of gambling, Monaco’s greatest attraction, achieving revenues of over one billion dollars per year. See population of Monaco.



Dominated by various peoples of antiquity, it was a colony of the Phoenicians who established within their domains the temple of the god Melkart. Later, the Greeks dominated it with the name Monoikos and the Romans with that of Portus Herculis Monæci. In the 1st century, Monaco was completely Christianized and then passed to various barbarian peoples such as Franks and Lombards. It then passed to the Holy Roman Empire and finally to the Republic of Genoa until 1297, the year from which the House of Grimaldi governs the country until today, legitimizing it in 1419.


Until its independence, it was coveted as a naval base by the French. Various protection and autonomy treaties were concluded with Spain (in 1512), France (1409, 1641 and 1861) and the Italian kingdom of Sardinia (Congress of Vienna in 1815). Occupied by the Spanish in 1605, it obtained the lordships of Roccabruna (“Roquebrune”) and Mentone / Mentón (which it would lose with the Revolution of 1848). During the French Revolution the country was occupied in 1793, a situation that would last until 1815.

In 1865, an agreement was signed with France on matters of customs and abolition of direct taxes. With Prince Albert I, Absolutism was abolished in 1869.

Development of its economy

The then prince Carlos III had the idea of creating the Monte Carlo Casino games (gambling was illegal in neighboring countries), which allowed the principality to grow rich and develop rapidly. In 1863, Carlos granted the privilege of operating the casino, hotels and theater to François Blanc, founder of the Society of Baths and Sea of the Circle of Foreigners in order to bring income to the Court.

In 1866, Carlos II, who had promoted these works, renamed the Spélugues neighborhood as Monte Carlo in his own honor, the activation of the Nice-Ventimiglia railway in 1868 strengthened its prosperity. Finally, in 1869, Carlos III eliminated taxes on personal and movable property, a fact that led to intense construction activity. An opera in 1869, numerous museums, and the Foundation of the Oceanographic Institute in 1906 were built during this time.

The first Monte Carlo rally took place in 1911, the first automobile Grand Prix in 1929. The prince of Monaco had full powers, this was therefore an absolute monarchy, until the reform of the constitution of 1911, which made the country a constitutional monarchy. In July 1918, a treaty was signed granting limited protection of the principality by France.

Monaco today

During World War II, the arrival of Italian troops in June 1940 disturbed Prince Louis II of Monaco, since he believed that there would be an annexation and his subsequent dismissal. For this reason, he approached the Vichy Government, both Pierre Laval and Marshal Pétain, from whom he successfully asked for help. Hitler ordered the invasion of Monaco by the German army in September 1943 as well as Vichy France and Italy. Monaco was liberated by troops from the US at the end of the war.

In 1962, the new constitution was promulgated, thus ensuring that the fundamental rights of Monegasques were respected: The following year, a treaty was signed with France, of which economic disputes were settled and new neighborhood and currency agreements were created, which were renewed in 2002 with the introduction of the Euro in Monaco, although this state is not a member of the European Union (EU).

In 1982, the wife of Rainier III, Princess Grace, died of a tragic accident, from which she moved all circles of the principality and world jet-setters and from which she made valuable contributions to the cultural development of the country. Years later, his companion, the sovereign prince, Rainier II I, died on April 6, 2005, being succeeded by Prince Albert II of Monaco, son of Rainier and Kelly.



One of Monaco’s main sources of income is tourism. Every year many visitors are drawn to its pleasant climate and luxurious casino. In 2001, a major new construction project expanded the pier used by cruise ships in the main port. The Principality has tried to diversify services and small industries with high added value, but not those polluting industries such as cosmetics and biothermals.
Living standards are high, comparable to those in prosperous French metropolitan areas.
The state maintains monopolies in many sectors, such as tobacco distribution and the postal service. The telephone network (Monaco Telecom) was initially owned by the state, but currently the state owns 45% of its shares, 49% belongs to landlines and wireless phones, 6% to Compagnie Monégasque de Banque. Telephony is still a monopoly today.
Monaco is not a member of the European Union, but is closely linked to it through its customs union with France. The currency in common use is the euro, with Monegasque designs on its national side.



Monte Carlo Casino: Designed by Charles Garnier, responsible for the majestic Paris Opera, the building is dominated by sumptuous Louis XV- style décor.
Monte Carlo has a name of Italian origin which means ‘Monte Carlo’. Named in honor of the reigning prince of the time, Carlos III of Monaco. In the 1850s the ruling family of Monaco was almost bankrupt, as a result of the loss of two cities, which provided most of the Principality’s income with their crops of lemon, orange and olive oil. At this time a number of small towns in Europe were growing in prosperity with gambling establishments, especially in cities like the German cities of Baden-Baden and Homburg.
In 1856, Charles III of Monaco gave a concession to Napoleon Langlois and Albert Aubert to establish a sea bath facility for the treatment of various diseases and to build this famous German-style casino in Monaco. The casino is divided into different rooms: America Room, White Room, with a replica panel of the Three Graces, the Pink Room, for smokers, and the Ordinaire and Privés Rooms, to play.
It is undoubtedly one of the most notable tourist attractions in the Principality of Monaco. The casino complex is a gambling system that also includes the Monte Carlo Grand Theater, an opera and a ballet house, and the headquarters of the Monte Carlo Ballets. It is located in the Monte Carlo district. It is the annual venue for the Grand Final of the European Pokér Tour.
Today it is still one of the most important, luxurious and select casinos in the world.

Exotic garden

Also known as the observatory’s grotto, it was inaugurated in 1933, the garden offers a great selection of the most exotic flowers on the planet. The observatory grotto, open to the public 20 years later, is an underground cavity formed by a series of caves brimming with stalagtites and stalagmites.

Oceonographic Museum

Driven by Albert I and built in 1910 with the succulent profits of the Casino de Monte Carlo. It is also a marine research institute. Jacques Cousteau established his workplace here.

Monaco Cathedral

The Cathedral of San Nicolás or Monaco, was built in 1875. Inside is the royal pantheon of the Grimaldi family, with the mortal remains of the royal saga. From September to June and on December 6 (Saint Nicholas celebration) the choir of “The Little Singers of Monaco” sing during mass every Sunday at 10 am.

Prince’s palace

In Monaco-Ville, where the seat of the Government is located, the Prince’s Palace, built in the middle of the 13th century, is used. During its long history it has been bombarded and besieged by various foreign powers. It is the residence of the Prince of Monaco and can only be visited in his absence. The changing of the guard takes place daily at 11:55 a.m.

Napoleonic Souvenirs Museum

Personal objects, clothes and portraits of Napoleon and Josephine are on display.


  • Monaco citizens themselves are not allowed to play in the casino.
  • Before 2002 Monaco had its own currency: the Monegasque franc.
  • At the Montecarlo casino, only after payment you can access the gaming rooms with the highest bets, where a tie is also required. It is open from 10 in the morning and does not close until the last bet is made.

Monaco State Overview